FX Week is proud to present the 10th annual FX Invest Europe conference, bringing together leading buy-side practitioners in the fast developing foreign exchange and currency markets. It is a must-attend event for those who want to better understand the implications of recent market developments

Risk.net's award-winning OpRisk North America is back for its 19th year! This industry must-attend conference gathers 550+ senior operational risk directors from leading tier 1 banks, buy-side firms and regulators from across the globe.

Structured Products runs three global awards programmes - for the Americas, Asia, and Europe - to celebrate excellence across the structured products markets. The Structured Products awards are the industry's most prestigious honour, designed to recognise the top buyside and sellside firms.

The OpRisk Awards recognise the outstanding achievers across the operational risk markets, including banks, insurers, regulators, consultants and vendors. We celebrate the industry's hard work in style and the awards ceremony is a great opportunity to network and find out about companies performance

This white paper discusses how effective financial crime prevention can not only mitigate the risk of threats to an organization and to its customers, but how it can also provide additional benefits such as operational efficiency and improved customer experience.

Now in its 10th year, the RiskTech100 is globally acknowledged as the most comprehensive study of the world's most significant risk and compliance technology companies. This report covers the key market trends and ranks the top 100 technology vendors in this sector.

Hedge funds should be more consistent, says industry survey

Hann Ho

28 April 2005

Tweet

Facebook

LinkedIn

Google plus

Save this article

Send to

It also found that hedge fund managers considered 14% of assets managed to be 'hard to value', consisting of strategies in long-dated convertible arbitrage, distressed securities, emerging markets and mortgage-backed securities, among others. In addition, 73% of respondents used an independent administrator to provide net asset value (NAV) figures, while 65% use a value error tolerance in their pricing before recalculating NAV.

“We believe the results of this research will be a useful resource for hedge fund managers and investors,” said Segun Aganga, chairman of the AIMA research committee, pointing out that the survey was an ongoing exercise and represented a first important step to establishing a dialogue on 'best practice' in the industry.

To achieve the desired transparency, AIMA recommends the documentation and regular review of practical pricing and valuation practices, with explicit descriptions of their potential limitations. The association also believes any decision to use a pricing model rather than a market price in determining asset value should be justified, while NAV calculations should be subject to “appropriate” checks and balances to ensure sufficient transparency.

AIMA’s global survey was answered by 76 institutional investors, managers and service providers such as prime brokers and administrators, combined with a further 16 qualitative interviews.